Titans to place tag on safety Michael Griffin

The Titans plan to place the franchise tag today on safety Michael Griffin, according to sources familiar with the situation. The tag on Griffin, who could have become a free agent next week, is roughly $6.2 million and keeps him on the roster for at least one more season. Today is the deadline for teams to declare their franchise players.

(Update at 12:05 p.m.: The Titans have confirmed they are using the tag on Griffin.)

The move also means cornerback Cortland Finnegan will hit the market when free agency begins on March 13. Had the Titans elected to tag Finnegan it would have cost them roughly $10.6 million, but that move was never expected. The two sides aren’t currently negotiating a long-term contract, either.

Griffin, a first-round pick in 2007, finished the 2011 season with 96 tackles and two interceptions. He has been to two Pro Bowls (2008, ’10) and has 17 career interceptions. Griffin said last week he wouldn’t be upset if the Titans placed the franchise tag on him. Players generally don’t like the franchise tag, instead preferring a long-term deal that comes with more guaranteed money.

The Titans now have until July 16 to reach a long-term contract with Griffin. If that doesn’t happen he’ll play under the one-year contract that’s expected to be worth roughly $6.2 million, although the exact figure has not yet been set by the NFL. Griffin can still sign with another team, but the Titans would have the ability to match the contract or receive two No. 1 picks as compensation.

The Titans also continue to talk with the agent for Jordan Babineaux about a long-term contract, and if a deal can be reached the team would return both its starters at safety from a year ago.